How much is renters insurance in Silver Springs, NV

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

After carefully evaluating renters insurance companies, we’ve compiled a list of the most affordable insurers for Silver Springs renters. Keep reading to learn which insurers offer the lowest rates in Silver Springs

Key Takeaways

Renters insurance in Silver Springs costs an average of $234 per year or $19 monthly.
CSAA Insurance (AAA) offers the cheapest renters in Silver Springs, with a monthly premium of $12.
Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.

What is the average cost of renters insurance per month in Silver Springs?

The average monthly cost of renters insurance in Silver Springs is $19, which is $2 less than the state average of $21. This rate is for the coverage limit of $40,000 in personal property, $100,000 in liability protection and a $1000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Silver Springs pay $15 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $4 more.

You’ll need to determine the right amount of coverage based on your needs and budget. However, opting for higher coverage limits is recommended if you own valuable items like jewelry, furniture and electronics.

How much is renters insurance in Silver Springs by deductible?

The renters insurance cost in Silver Springs is $204 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $20 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$204	$261	$319
$1,000	$184	$234	$285

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Silver Springs?

Your search for affordable renters insurance ends here.

CSAA Insurance (AAA) has the lowest rates in Silver Springs, with an annual premium of $12 per month. Based on Insure.com data study, State Farm and American Family also offer cheap rates.

After evaluating renters insurance quotes from all the national and regional insurance companies in Silver Springs, the experts at Insure.com put together a list of the most affordable insurance carriers.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Silver Springs, NV.

Renter insurance provider	Average annual rate	Average per month rate
CSAA Insurance (AAA)	$143	$12
State Farm	$180	$15
American Family	$232	$19
Universal Insurance Co	$235	$20
Farmers	$247	$21
Country Financial	$268	$22
Nationwide	$296	$25
USAA	$147	$12

Tips for reducing renters insurance cost

Here are some tips to help reduce renters insurance costs in Silver Springs:

Bundle insurance policies: If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Silver Springs.

Increase deductible: Opting for a higher deductible can lower your premium in Silver Springs, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage: Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims: Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around: Don’t settle for the first quote you receive. Compare renters insurance quotes in Silver Springs from multiple providers to find the best price for the coverage you need.

Final thoughts

Renters in Silver Springs, NV should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Silver Springs for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.

How much is renters insurance in other cities

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.